Starting Out with C++ from Control Structures to Objects (9th Edition)
9th Edition
ISBN: 9780134498379
Author: Tony Gaddis
Publisher: PEARSON
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Textbook Question
Chapter 6, Problem 10PC
Future Value
Suppose you have a certain amount of money in a savings account that earns compound monthly interest, and you want to calculate the amount that you will have after a specific number of months. The formula, which is known as the future value formula, is
The terms in the formula are as follows:
- F is the future value of the account after the specified time period.
- P is the present value of the account.
- i is the monthly interest rate.
- t is the number of months.
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Summary
Interest on a credit card's unpaid balance is calculated
using the average daily balance.
Suppose that netBalance is the balance shown in the
bill, payment is the payment made, d1 is the number
of days in the billing cycle, and d2 is the number of
days payment is made before billing cycle.
Then, the average daily balance is:
averageDailyBalance = (netBalance * d1 payme
If the interest rate per month is, say, 0.0152, then the
interest on the unpaid balance is:
interest averageDailyBalance * 0.0152
Instructions
Write a program that accepts as input netBalance,
d1, payment, d2, and interest rate per month (
interestRate).
Interest Rates Savings accounts state an interest rate and a compounding period. If theamount deposited is P, the stated interest rate is r, and interest is compounded m timesper year, then the balance in the account after one year is P⋅(1+rm)m. For instance, if$1000 is deposited at 3% interest compounded quarterly (that is, 4 times per year), thenthe balance after one year is1000⋅(1+.034)4=1000⋅1.00754=$1,030.34.Interest rates with different compounding periods cannot be compared directly.The concept of APY (annual percentage yield) must be used to make the comparison. TheAPY for a stated interest rate r compounded m times per year is defined byAPY=(1+rm)m−1.(The APY is the simple interest rate that yields the same amount of interest after oneyear as the compounded annual rate of interest.) Write a program to compare interestrates offered by two different banks and determine the most favorable interest rate. SeeFig. 4.24.
Interest on a credit card’s unpaid balance is calculated using the average daily balance. Suppose that netBalanceis the balance shown in the bill, paymentis the payment made, d1is the number of days in the billing cycle, and d2is the number of days payment is made before the billing cycle. Then the average daily balance is:
averageDailyBalance = (netBalance * d1 –payment * d2) / d1
if the interest rate per month is say, 0.0152, then the interest on the unpaid balanceis:
interest = averageDailyBalance * 0.0152
Design a program that accepts as input netBalance, payment, d1, d2, and interest rate per month. The program outputs the interest charged. Format your output to two decimal places.
C++
Chapter 6 Solutions
Starting Out with C++ from Control Structures to Objects (9th Edition)
Ch. 6.2 - Is the following a function header or a function...Ch. 6.2 - Is the following a function header or a function...Ch. 6.2 - What will the output of the following program be...Ch. 6.2 - The following program skeleton determines whether...Ch. 6.6 - Indicate which of the following is the function...Ch. 6.6 - Write a function named timesTen. The function...Ch. 6.6 - Write a function prototype for the timesTen...Ch. 6.6 - Prob. 6.8CPCh. 6.6 - What is the output of the following program?...Ch. 6.6 - The following program skeleton asks for the number...
Ch. 6.9 - How many return values may a function have?Ch. 6.9 - Write a header for a function named distance. The...Ch. 6.9 - Write a header for a function named days. The...Ch. 6.9 - Write a header for a function named getKey. The...Ch. 6.9 - Write a header for a function named lightYears....Ch. 6.11 - What is the difference between a static local...Ch. 6.11 - Prob. 6.17CPCh. 6.11 - Prob. 6.18CPCh. 6.13 - Prob. 6.19CPCh. 6.13 - Write the prototype and header for a function...Ch. 6.13 - Write the prototype and header for a function...Ch. 6.13 - What is the output of the following program?...Ch. 6.13 - The following program asks the user to enter two...Ch. 6.15 - What is the output of the following program?...Ch. 6.15 - What is the output of the following program?...Ch. 6 - Why do local variables lose their values between...Ch. 6 - What is the difference between an argument and a...Ch. 6 - Where do you define parameter variables?Ch. 6 - If you are writing a function that accepts an...Ch. 6 - When a function accepts multiple arguments, does...Ch. 6 - How do you return a value from a function?Ch. 6 - What is the advantage of breaking your...Ch. 6 - How would a static local variable be useful?Ch. 6 - Give an example where passing an argument by...Ch. 6 - The_______ is the part of a function definition...Ch. 6 - If a function doesnt return a value, the word...Ch. 6 - Either a functions _______ or its _______ must...Ch. 6 - Values that are sent into a function are called...Ch. 6 - Special variables that hold copies of function...Ch. 6 - When only a copy of an argument is passed to a...Ch. 6 - A(n) _______ eliminates the need to place a...Ch. 6 - A(n) _______ variable is defined inside a function...Ch. 6 - _______ variables are defined outside all...Ch. 6 - _______ variables provide an easy way to share...Ch. 6 - Unless you explicitly initialize global variables,...Ch. 6 - If a function has a local variable with the same...Ch. 6 - _______ local variables retain their value between...Ch. 6 - The _______ statement causes a function to end...Ch. 6 - _______ arguments are passed to parameters...Ch. 6 - When a function uses a mixture of parameters with...Ch. 6 - Prob. 26RQECh. 6 - When used as parameters, _______ variables allow a...Ch. 6 - Reference variables are defined like regular...Ch. 6 - Reference variables allow arguments to be passed...Ch. 6 - The _______ function causes a program to...Ch. 6 - Two or more functions may have the same name, as...Ch. 6 - Examine the following function header, then write...Ch. 6 - The following statement calls a function named...Ch. 6 - A program contains the following function: int...Ch. 6 - Write a function named timesTen that accepts an...Ch. 6 - A program contains the following function: void...Ch. 6 - Write a function named getNumber that uses a...Ch. 6 - T F Functions should be given names that reflect...Ch. 6 - Prob. 39RQECh. 6 - T F Function prototypes are terminated with a...Ch. 6 - T F If other functions are defined before main,...Ch. 6 - T F When a function terminates, it always branches...Ch. 6 - T F Arguments are passed to the function...Ch. 6 - T F The scope of a parameter is limited to the...Ch. 6 - T F Changes to a function parameter always affect...Ch. 6 - T F In a function prototype, the names of the...Ch. 6 - T F Many functions may have local variables with...Ch. 6 - T F Overuse of global variables can lead to...Ch. 6 - T F Static local variables are not destroyed when...Ch. 6 - T F All static local variables are initialized to...Ch. 6 - T F Initialization of static local variables only...Ch. 6 - T F When a function with default arguments is...Ch. 6 - T F It is not possible for a function to have some...Ch. 6 - T F The exit function can only be called from...Ch. 6 - T F A stub is a dummy function that is called...Ch. 6 - Each of the following functions has errors. Locate...Ch. 6 - double average(int value1, int value2, int value3)...Ch. 6 - void area(int length =30, int width) { return...Ch. 6 - void getValue(int value) { cout "Enter a value:...Ch. 6 - (Overloaded functions) int getValue() { int...Ch. 6 - Markup Write a program that asks the user to enter...Ch. 6 - Rectangle AreaComplete the Program If you have...Ch. 6 - Winning Division Write a program that determines...Ch. 6 - Safest Driving Area Write a program that...Ch. 6 - Falling Distance When an object is falling because...Ch. 6 - Kinetic Energy In physics, an object that is in...Ch. 6 - Celsius Temperature Table The formula for...Ch. 6 - Coin Toss Write a function named coinToss that...Ch. 6 - Present Value Suppose you want to deposit a...Ch. 6 - Future Value Suppose you have a certain amount of...Ch. 6 - Lowest Score Drop Write a program that calculates...Ch. 6 - Star Search A particular talent competition has...Ch. 6 - Days Out Write a program that calculates the...Ch. 6 - Order Status The Middletown Wholesale Copper Wire...Ch. 6 - Overloaded Hospital Write a program that computes...Ch. 6 - Population In a population, the birth rate is the...Ch. 6 - Transient Population Modify Programming Challenge...Ch. 6 - Paint Job Estimator A painting company has...Ch. 6 - Prob. 19PCCh. 6 - Stock Profit The profit from the sale of a stock...Ch. 6 - Multiple Stock Sales Use the function that you...Ch. 6 - isPrime Function A prime number is a number that...Ch. 6 - Prob. 23PCCh. 6 - Rock, Paper, Scissors Game Write a program that...Ch. 6 - Group Project 25. 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